Insurance is protection against possible financial loss.

Question

Quizplus · Accepted Answer

Insurance policies are designed to protect individuals and businesses against financial loss, in case of unforeseen events such as accidents, illnesses, theft, or natural disasters. By paying a premium, the policyholder transfers the risk of loss to the insurance company, which agrees to compensate them for their losses, up to the limits specified in the policy. Insurance can provide peace of mind and financial security, allowing people to manage risk and plan for the future with confidence.

Insurance Is Protection Against Possible Financial Loss